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New cash ISAs at Nationwide

Nationwide has introduced new fixed-rate cash ISAs ahead of the start of the new tax year.

Its new four-year, fixed-rate cash ISA paying 2.7% and requires an opening balance of just £1. Its new two-year, fixed-rate version pays 2.35% and a 30-month fixed-rate ISA pays 2.55%.

Furthermore, its revamped Web ISA will pay 2.25% for customers with balances of over £10,000 (up from 2%). It will pay 2% on balances of between £1,000 and £9,999 (up from 1.75%).

Richard Marriott, head of savings at Nationwide, said: “The end of the current tax-year is fast approaching and savers need to act quickly if they want to use their annual tax-free cash ISA allowance before they lose it.

“Nationwide’s new fixed-rate ISAs offer competitive rates and are certainly worthy of consideration if savers don’t need instant access to their money. Alternatively, if savers do need instant access then Web ISA pays a highly competitive rate of up to 2.25% AER/ tax-free (variable).

“Savers who transfer their existing cash ISA balances to Nationwide will benefit from one of the society’s Savings Promises where you can earn interest on your cash ISA as soon as we receive your transfer application, provided that your funds are free to move and not subject to any notice period.

“Since we made this promise two years ago, the Society has paid its cash ISA savers an extra £2.5 million of interest - further proof to savers that we are ‘On Your Side’.”

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